Tax report
For many smaller businesses, a tax accounting report is often a practical alternative to a comprehensive annual report.
An annual report prepared under the Danish Financial Statements Act (årsregnskabsloven) is an effective instrument for management, owners, and lenders to assess a business’s performance and financial position. It is subject to a number of statutory requirements, with the objective of presenting a true and fair view. In addition, separate tax specifications must be prepared.
A tax account, however, is intended for businesses with less complex operations, where such extensive reporting is unnecessary. The purpose of the tax account is to calculate and optimize the taxable income. Additionally, it typically involves profit allocation under the Danish Business Taxation Scheme, including an evaluation of whether alternative taxation models might be more advantageous.
A tax account prepared by PrivatRevision therefore focuses specifically on the tax aspects of the account. We prepare statements, specifications, and handle reporting obligations. This is generally more cost-effective than producing a full annual report that includes tax accounts, and for most business, it is also more optimal than an annual report without a dedicated tax component focused on optimization.
Tax accounts are offered to personally owned businesses, such as those engaged in consultancy, therapy, advisory services, leasing or trading in real estate or securities.
For limited liability companies (ApS or A/S), an annual report is required, and a standalone tax account will not suffice.
Please feel free to contact us for an offer on a tax account tailored to your business or activities.